Jessica Scott in Victoria Point, Queensland, Australia | Accountant

Jessica Scott

Locality: Victoria Point, Queensland, Australia

Phone: +61 407 160 723

Address: PO Box 3123 4165 Victoria Point, QLD, Australia

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• Tax preparation service
• Accountant
• Financial service

10.01.2022 JOBKEEPER 2.0 Coronavirus Economic Response Package (Payments and Benefits) Amendment Rules (No. 8) 2020 has been released by the Government - https://www.legislation.gov.au/Details/F2020L01165 and an Explanatory Statement https://www.legislation.gov.au//Explanatory%20Stateme/Text Key Points... - 2 extension periods (28 Sept 2020-03 Jan 2021 and 04 Jan 2021-28 Mar 2021) - In addition to satisfying all the other qualifying conditions, the new actual decline in turnover test must be satisfied separately for Extension Period 1 and Extension Period 2 - You can qualify for one or both JobKeeper extensions, even if you did not get the first round of JobKeeper - New tiered payment system for employees and business participants depending on the average hours worked in the applicable "reference period" - The Commissioner has the power to implement an alternate test for both the income comparison period and the employee reference period (Details to come) -Existing actual and predicted turnover reporting will be required for those claiming JobKeeper - Penalties will apply for making a false or misleading statement to the ATO If you require assistance with assessing your eligibility for JobKeeper, or making a claim, please contact me.

09.01.2022 ARE YOU READY FOR JOBKEEPER 2.0? From 28 September 2020, businesses and not-for-profits seeking to claim the JobKeeper Payment will be required to demonstrate that they have suffered an ongoing significant decline in turnover using actual GST turnover (rather than projected GST turnover). Along with the new JobKeeper payment rates, there will be two separate extension periods. For each extension period, an additional actual decline in turnover test applies and the rate of t...he JobKeeper payment is different. The new JobKeeper payments will be stepped down with a two-tiered payment system based on the average hours worked over a specified 4 week period, and will also be different for each extension period. It is important to understand these obligations and ensure that your employees are paid the appropriate rates to maintain your eligibility to receive support. The JobKeeper extension scheme will be open to new participants who have not previously claimed payments and even if you do not qualify for Extension Period 1, you can still be eligible for Extension Period 2. If you or your business require assistance with claiming your JobKeeper entitlements, please contact me as soon as possible to make sure you do not miss out on any amounts that you are entitled to.